W2 Energy Inc. (OTCPINK: WTWO) stock volume soared Apr. 24, with 504,216,480 shares changing hands, more than 12 times its three-month average volume of 40,545,546 shares.
The soaring stock volume was triggered in part by the Canadian renewable energy company’s Apr. 24 announcement that its biofuel plant installation is beginning production at its Cambridge facility.
Testing Batches of Biofuel
Over the last month, W2 Energy has tested various small batches of fuel and said it is now confident the plant is running well and will produce ASTM specification fuel on a consistent basis.
The company added that it will begin production on a batch basis, using cash flow from sales to ramp production up while remaining cash flow positive. Once W2 Energy reaches a consistent production rate the company said it will apply for credit lines that will allow us to move to full production and beyond.
Mr. Michael McLaren, CEO states, "We are very excited now to be finally here and in the biofuel business. Our current plan is to ramp up production with our system to its maximum of 7,500 liters of waste vegetable oil per day. Once we hit those targets we will expand the plant to double that capacity to 15,000 liters per day."
Applying for Government Subsidy
Now that the company has begun production it says it will apply for the government biofuel production subsidy.
On Apr. 24 WTWO’s share price closed at 0.0009 cents, up 0.0003 cents, or 50%, from the previous day’s share price of 0.0006 cents.
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Blue Earth Inc. to Sell Its Waianae Solar Facility to Kenyon Energy
In other news, Blue Earth Inc. (OTCQB: BBLU) enjoyed robust stock volume, with 139,289 share changing hands, significantly higher than its three-month average volume of 108,056 shares.
The uptick in volume comes on the heels of the Henderson, NV-based renewable energy company’s announcement that it has entered into an agreement to sell its recently commissioned, Waianae, solar facility to Kenyon Energy for an undisclosed amount.
The 500,000-watt system is located on the island of Oahu, HI. The sale of this project provides Blue Earth with additional corporate resources to apply toward our combined heat and power (CHP) projects, and sets in motion a broader relationship with Kenyon Energy to similarly convert our large solar project pipeline.
A Letter of Intent has been signed for Kenyon Energy to acquire two additional solar systems totaling 785,000 watts on the island of Oahu. BE Solar will provide the engineering, procurement and construction services for the completion of the facilities in the third quarter of 2014. Kenyon Energy and BBLU are also working together to develop and build other solar projects on the islands and the mainland.
On Apr. 24 BBLU’s share price closed at $3.06, up 5 cents from the previous day’s share price of $3.01.
LEEP Inc. Files $31-Million Lawsuit
Meanwhile, LEEP Inc. (OTCPINK: LPPI) stock volume shot through the roof Apr. 24,with 51,647,644 shares changing hands, more than 19 times its three-month average volume of 2,633,170 shares.
The tremendous surge in stock volume is most likely being spurred by the Somerset, Ky.-based building material company’s Apr. 24 announcement that has filed suit against two domestic companies, alleging that they violated a Non-Disclosure, Non-Circumvention Agreement and conspired in an attempt to interrupt and take over its business.
The $31-million claim alleges fraud, deceptive business practices, and racketeering, among other violations of law. The company is aggressively pursuing these claims. The website www.leeppleadings.wordpress.com gives details of both the legal and financial implications of this action.
In spite of the business challenges that have been created by the defendants' alleged actions, the company says it continues to work diligently to attract and develop additional business prospects, and maintain its existing government and commercial customer relationships.
The company also disclosed that it has completed additional mail screening structures for use by the U.S. Government as part of a counter-terrorism initiative.
Based upon the civil unrest in various parts of the world where the United States has a physical presence, these specialized structures are very valuable in the effort to protect both U.S. and in-country national personnel from terroristic activity using the mail as a delivery mechanism.
LEEP has now constructed and delivered these structures to approximately 50 countries around the world
On Apr. 24 LPPI’s share price closed at 2 cents, up 1 cent from the previous day’s share price of 1 cent.
GulfSlope Energy Inc.’s Stock Volume Soars
Finally, GulfSlope Energy Inc.’s (OTCQB: GSPE) share volume skyrocketed Apr. 24, with 277,900 shares changing hands, more than 17 times its three-month average volume of 16,853 shares.
The tremendous uptick in volume is being fueled in part by the Houston-based oil exploration company’s announcing the results of its participation in offshore lease sale 231, central Gulf of Mexico, conducted by the Bureau of Ocean Management (BOEM).
GulfSlope was high bidder on 22 out of 23 bids. The sum of our high bids is $7,843,642.
GulfSlope bid on all blocks at 100% working interest. All bid blocks are located on the outer shelf and upper slope of the offshore Gulf of Mexico, in water depths of less than 1000'.
On Apr. 24 GSPE’s share price closed at $2.06, up 36 cents from the previous day’s share price of $1.70.
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